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While Facebook struggles to monetize its mobile side, Twitter on certain days already makes more money on mobile than on the desktop.

That's because Twitter is natively a mobile product, said Twitter CEO Dick Costolo, in a talk at a conference organized by the Economist. A couple weeks ago, Twitter's mobile ad revenue on certain days topped desktop revenue, he said.

"(Twitter ads are) inherently suited to mobile because Tweets are suited for mobile," Costolo said, "even though we launched first on the web and only started to run on mobile a few months ago. It's already been the case a couple weeks ago that mobile ad revenue in a day was greater than non mobile. Mobile revenue is already doing delightfully well."

The fact that Twitter gets more mobile revenue than desktop revenue on some days is a striking fact, because conventional wisdom is that online dektop ads monetize much better than mobile ads. It's an issue that Facebook has been grappling with. So based on what Costolo said, either Twitter is getting more clicks on mobile ads than on desktop ads, or it has better ad rates on mobile, or it just has more users on mobile--or some combination of all three.

Twitter designed its ad program so that all its ads will be former Tweets that advertisers wrote. That's so that the ads can go where ever Tweets go. Making ads as Tweets also reduces the incentive for spam because advertisers can only create ads that they have tweeted, Costolo said. If they are Tweets that are bad, then they will lose followers.

Twitter also has advantages on mobile because its users are more active and engaged on mobile than on the desktop. And the majority of the company's users are on mobile devices, Costolo said. "(Mobile) users are more active and log in and the the service more frequently," Costolo said.

Twitter now has more than 400 million Tweets per day and more than 140 million active users who log in at least once per month, Costolo said.

Costolo was also asked about a potential Twitter IPO, but Costolo said he was not focused on the IPO and just focusing on the company and the product.